© Dukascopy Bank SA
Long-term perspectives for the Greenback against the Swiss Franc are bullish. This cross formed a symmetrical triangle pattern in the 4H chart, but the overall tendency of the pair suggests it is going to breach the upper boundary quite soon. The apex should be reached by the first week of February, but break-outs usually take place somewhat earlier, and in this case it should happen in January. USD/CHF is supported by daily and weekly technical studies, while the pair is oversold in the SWFX market where 72% of all positions are still short on USD. Reinforced by the 200-period SMA (0.9963) and monthly PP at 1.0041, the pair will be expected to surge, with the first major bullish goal placed just under 1.03 (monthly R1).
© Dukascopy Bank SA